Stop Cash Shrink

Officials in Gov. Jerry Brown’s administration have quietly met with representatives of 65 banks and credit unions over the past few weeks about creating a network of financial institutions that would accept funds from pot businesses in a way that would guarantee federal banking regulators that the cannabis industry money is subjected to special tracking, oversight and transparency.

The green banking proposal: To designate one bank as a central correspondent bank that would hold accounts from other banks that are doing business with marijuana firms.